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Transition Metals is a project generator with 30 projects (9 gold) in Canada and 4 JVs. They are focusing on 5 district size plays: 2 gold, 1 copper, and 2 nickel, copper, and PGMs. All are early exploration. Their most recent drill results returned 9.14... more

02/28/2019

Analysis

Updated: Ashanti Gold Corp

Ashanti Gold has 3 early exploration properties in West Africa (Mali and Ghana). Currently they focus on Kossanto in Mali (15,000 acres) which returned economic grades near surface, their only problem is the size which they still need to prove.... more

02/27/2019

Analysis

Updated: Benton Resources Inc

Benton Resources is a project generator. They sold their advanced gold project (Cape Ray) in Newfoundland in Canada for $4 million and currently exploring their Bedivere and Panama Lake projects. Bedivere was drilled through 2017 and 2018 and is... more

02/27/2019

Analysis

Updated: NorZinc Ltd.

NorZinc Ltd (previously Canadian Zinc) has a silver/zinc/lead project (Prairie Creek) in the Northwest Territories. They are heading towards production once they get financing ($280 million capex) and have a large high-grade deposit (84 million oz at 4... more

02/26/2019

Analysis

Updated: Almaden Minerals Ltd.

Almaden Minerals has decided to build their flagship project in Mexico (Ixtaca). They spun out their 40 exploration properties to their stockholders in a new company (Almadex Minerals). Ixtaca has a PFS (pre-feasibility study) to produce 80,000 oz (.6... more

02/26/2019

Analysis

Updated: Midas Gold Corp

Midas Gold has a very large gold project in Idaho that is heading to production around 2024. Stibnite is a 6.4 million oz resource (1.6 gpt) that is growing in size and has significant exploration potential. They have an FD market cap of $277 million,... more

02/24/2019

Analysis

Updated: Kinross Gold Corp.

Kinross Gold is a major with 2.5 million oz of gold equivalent production. Their all-in costs for 2019 are projected to be around $1100 (gold equivalent cash costs per oz around $750). In 2017, when gold prices averaged about $1300 and their cash costs... more

02/24/2019

Analysis

Updated: Northern Dynasty Minerals Ltd

Northern Dynasty is advancing the Pebble project in Alaska. Over $750 million has been spent. Pebble has 80 billion lbs (4%) of copper, 75 million oz (.4 gpt) of gold, and 500 million oz (1.5 gpt) of silver. Pebble is the largest undeveloped gold mine in... more

02/24/2019

Analysis

Updated: Petropavlovsk Plc

Petropavlovsk PLC is a mid-tier gold producer in Russia. They have 20 million oz of gold resources and will produce 500,000 oz with cash costs around $800 per oz in 2019. They have a poor balance sheet with $600 million in debt and only $33 million in... more

02/24/2019

Analysis

Updated: Fortune Minerals Ltd.

Fortune Minerals has a shovel-ready gold/copper/cobalt/bismuth project in Canada (Northwest Territories). The problem is the high capex ($437 million). No one wants to take a chance on it today. The mine life is 21 to 24 years. However, it will likely... more

02/24/2019

Analysis

Updated: Cache Exploration Inc.

Cache Exploration is a small project generator in Canada. They have a gold discovery (Kiyuk Lake) in Nunavut on 75,000 acres and a cobalt property (Deep Lake). There has been 60 holes drilled in Kiyuk and they have found four zones with mineralization.... more

02/24/2019

Analysis

Updated: Allegiant Gold

Allegiant Gold (spinout from Columbus Gold) is a project generator focused in Nevada and Arizona. They have 14 projects, with 10 of them drill ready that they plan to drill. They have one discovery (Eastside), but it is low grade and investors are not... more

02/23/2019

Analysis

Updated: Desert Mountain Energy Corp

Desert Mountain is a project generator. They hold 1% on a permitted mine (Yellowjacket) that could be restarted. They had several early exploration projects in Africa, but divested all of them. Now they are left with their Yellowjacket gold property in... more

02/23/2019

Analysis

Updated: Core Gold Inc

Core Gold (previously Dynasty Metals) is a small gold producer in Ecuador. Their problem is the location (plus some past labor issues). Investors are going to avoid Ecuador until they lower the tax rate. Ecuador said they were going to reduce their... more

02/23/2019

Analysis

Updated: Altus Strategies Plc

Altus Strategies is a project generator focused in Africa. They have 18 projects in 6 countries on 800,000 acres. They do not have any advanced projects. Diba in Mali is their largest, with only 275,000 oz at 1.3 gpt. They will likely option or sell it... more

Moneta Porcupine has an excellent project in Ontario, Canada. The Golden Hwy property is a 4 million oz resource (1.7 gpt), although 3.2 million oz are inferred. They released a PEA for 25,000 tpd at 288,000 oz annual production. The capex was high at $60 more

02/23/2019

Analysis

Updated: Centenera Mining Corp

Centenera Mining is a project generator focused in Argentina. They are exploring 5 projects, all of which are early exploration. They do not have any JVs at the moment. They do have a copper/gold discovery (Esperanza), which has a 350 meter hole at .35%... more

02/23/2019

Analysis

Updated: Gungnir Resources Inc

Gungnir Resources is a Canadian exploration company with a project in Sweden. Their Knaften property is on 18,000 acres in a good location. Early drill results (86 holes) have found a discovery (10 meters at 3.4 gpt). Plus, they have a royalty that will... more

02/23/2019

Analysis

Updated: Barra Resources Ltd.

Barra Resources has two early exploration gold projects in Australia. They also have an advanced cobalt project that can provide cash flow to explore their gold projects. Both of their gold projects appear to have gold, but will require significant... more

02/23/2019

Analysis

Updated: Andromeda Metals Ltd

Andromeda Metals is a project generator focused in Australia. They have 5 projects on large land holdings (1.5 million acres). They have 2 JVs with a 25% interest. They also recently obtained some projects in the Pilbara region in case that area turns... more

02/21/2019

Analysis

Updated: Golden Predator Mining Corp

Golden Predator is a gold exploration company focused in Canada. They are currently seeking a JV partner to develop their advanced Brewery Creek project in the Yukon. It is a 1.5 million oz (1.2 gpt) deposit, with plans for a 400,000 oz open pit. The... more

02/21/2019

Analysis

Updated: Westkam Gold Corp

Westkam Gold is a project generator focused in Canada. They have one project (Bonaparte in British Columbia) which they tried to sell to MX Gold but couldn't finalize it. Therefore they drilled it in 2018 and plan to continue in 2019, but their financial... more

02/20/2019

Analysis

Updated: Trimetals Mining Inc.

TriMetals Mining (formerly South American Silver) has been a painful fall for their investors. It has fallen from $3.25 a share in 2010 to today’s price of 5 cents. Ouch. Today it has an FD market cap of $14 million. This happened because the Bolivian... more

02/18/2019

Analysis

Updated: Nautilus Minerals Inc.

Nautilus Minerals is a high-risk speculation stock, however, the sky is the limit. They are planning to mine from the sea floor at deep depths (5000 feet and deeper). If it works, they will likely expand rapidly, adding reserves and new mines. They... more

02/18/2019

Analysis

Updated: Santacruz Silver Mining Ltd

Santacruz Silver Mining is a small silver producer in Mexico. They had problems with high costs in 2017 and sold their flagship Gavilanes project. Now they are left with two small mines (Rosario and Veta Grande) with low resources of only about 20... more

02/17/2019

Analysis

Updated: Bravada Gold Corp.

Bravada Gold is an exploration company focused on Nevada. They have 11 Properties on 23,000 acres. The company was a spin-out from Bravo Gold and is a relatively new project generator. Their best property is Wind Mountain, a past producing open pit... more

02/17/2019

Analysis

Updated: Nulegacy Gold Corp

NuLegacy Gold has an early exploration project in Nevada (Iceberg and Avocado deposits on the Red Hill Property). It is nearby Barrick Gold’s 14 million oz Goldrush open pit deposit. It could be another large open pit. The early drill results have been... more

02/17/2019

Analysis

Updated: Gold Resource Corp.

Gold Resource Corp is an emerging mid-tier producer. They are often referred by their trading symbol GORO. After they went into production in 2011, their share price rocketed to $30 a share. However, it came all the way back, trading at $1.91 in early... more

02/17/2019

Analysis

Updated: Westgold Resources Ltd

Westgold Resources is a mid-tier producer in Australia. They were a spinout of Metals X in 2016 (which remains as a base metals company). They have 11 million oz of resources (plus recent acquisitions of Andy Well and Gnaweeda) and 4 producing mines.... more

02/17/2019

Analysis

Updated: Westgold Resources Ltd

Westgold Resources is a mid-tier producer in Australia. They were a spinout of Metals X in 2016 (which remains as a base metals company). They have 11 million oz of resources (plus recent acquisitions of Andy Well and Gnaweeda) and 4 producing mines.... more

02/17/2019

Analysis

Updated: Aurania Resources Ltd

Aurania Resources is a new company with an early exploration project in Ecuador called the Lost Cities / Cutucu project. It is a large property with 500,000 acres. In 2017 and 2018 they collected soil samples and looked for drilling targets. They plan to... more

02/17/2019

Analysis

Updated: Trifecta Gold Ltd

Trifecta Gold is a project generator focused in the Yukon. They were created in 2017 from a spinout of 4 properties by Strategic Metals. All of the properties are early exploration and have not been drilled.
They recently tried to raise $500,000 in... more

02/16/2019

Analysis

Updated: Puma Exploration Inc

Puma Exploration is a project generator focused in Canada. They have five projects in New Brunswick. All of them have potential. Recent copper/zinc drill results at Dragon and Powerline have been impressive. Nicholas-Deny (15,000 acre) has the 6 mile... more

02/16/2019

Analysis

Updated: Regis Resources Ltd.

Regis Resources is an Australian gold producer. It was a fantastic investment in 2008, when they traded for 10 cents. It increased to $6 in 2012, but is now back to $3.87 with a $2 billion FD market cap. Cash costs are around $650 per oz, plus their... more

02/16/2019

Analysis

Updated: Orla Mining Ltd

Orla Mining has two open pit projects totaling 12 million oz. They could easily become a large company. They are developing their first mine (Camino Rojo - Mexico), which is a 2.4 million oz. (.8 gpt) oxide deposit. The capex in $100 million to produce... more

02/16/2019

Analysis

Updated: Eloro Resources Ltd

Eloro Resources is a project generator focused in Peru. They have a potential large gold discovery at La Victoria (22,000 acres). Early drill results have been impressive. The share price exploded in 2016 and 2017, but it has crashed back to 23 cents. It... more

02/16/2019

Analysis

Updated: Abraplata Resource Corp

Abraplata Resource Corp obtained the Diablillos silver/gold project from Silver Standard (now SSR Mining). They paid cash ($15 million, $13 million still due) and shares (20% of the company) to obtain 100%. Diablillos is an 80 million oz (90 gpt) silver... more

02/14/2019

Analysis

Updated: Metals Exploration Plc

Metals Exploration is an emerging mid-tier gold producer in the Philippines. Their Runruno project has 1.4 million oz (1.7 gpt). They plan to produce 75,000 oz for 10 years. The bad news is that the Philippines has been rethinking their mining industry,... more

02/14/2019

Analysis

Updated: Rainy Mountain Royalty Corp

Rainy Mountain Royalty is a project generator focused in Ontario, Canada. They have 7 properties, but many of them are base metals. Two of their properties are early exploration gold projects (Brunswick and Powell). Both need to be drilled.
They do... more

02/12/2019

Analysis

Updated: Torq Resources Inc

Torq Resources (formerly Stratton Resources) is a small project generator. They recently let go of their three properties (Newfoundland and Utah) and are looking for a new property.
They have an experienced team with a good track record. At this... more

02/11/2019

Analysis

Updated: Polymetal Intl. Plc

Polymetal International is a major with both large gold and silver production in Russia. They have 24 million oz of gold resources and 340 million oz of silver resources. They are producing 900,000 oz of gold and 29 million oz of silver. Gold equivalent... more

02/10/2019

Analysis

Updated: Carlin Gold Corp.

Carlin Gold Corp. is a project generator in Nevada and the Yukon. In February 2018 they terminated a JV with Barrick Gold on their Cortez Summit project in Nevada, which is next door to Barrick's 11 million oz Goldrush project. They also have two other... more

02/10/2019

Analysis

Updated: Reunion Gold Corp.

Reunion Gold has 6 projects in South America, none of which appear to be advanced. I don't think they have selected which project to focus on yet. Three are in French Guiana. Haute Mana (30,000 acres) is an 80% option that requires a PEA by 2022. Dorlin ( more

02/10/2019

Analysis

Updated: Independence Gold Corp

Independence Gold is new project generator. They recently sold 3 projects in the Yukon and decided to halt drilling in the Boulevard project after disappointing results. Their current focus is the 3Ts project (12,000 acres) in British Colombia. It has... more

02/10/2019

Analysis

Updated: Ramelius Resources Ltd.

Ramelius Resources is a mid-tier producer in Australia. They are producing 200,000 oz with low all-in costs under $1100 per oz. They have an FD market cap of $263, which would be undervalued for a 200,000 oz producer with low cash costs, $65 million in... more

02/10/2019

Analysis

Updated: West Kirkland Mining Inc

West Kirkland Mining purchased the Hasbrouck and Three Hills properties from Allied Nevada in 2014 for $20 million. They diluted their shares substantially to buy the properties. They have a pre-feasibility study to build both for a capex of $47 million.... more

02/10/2019

Analysis

Updated: Precipitate Gold Corp

Precipitate Gold is a new company started in 2012. They have a small market cap of $6 million and some interesting properties in the Dominican Republic, Mexico, and Canada. This is a high-risk speculation stock. However, it was founded by the Coffin... more

02/10/2019

Analysis

Updated: Saracen Mineral Holdings Ltd.

Saracen Mineral Holdings is a mid-tier gold producer in Australia. They have two operations (Carosue and Thunderbox) that are each producing 150,000 oz per year. Cash costs are currently about $700 per oz and are forecasted to remain low. They have large... more

02/09/2019

Analysis

Updated: Colorado Resources Ltd

Colorado Resources is a relatively new project generator with a lot of targets. They have several large properties in British Columbia. Their North Rok project is low grade (.25 gpt) with copper offsets. It's currently 140 million tons and could grow in... more

02/09/2019

Analysis

Updated: Troy Resources Ltd

Troy Resources is a small gold producer. They have a good project in Guyana. Karouni has a 1 million oz (2.3 gpt) open pit resource. Production began in 2015 and was supposed to ramp up to 90,000 oz. However, they have had problems accessing the high... more

02/09/2019

Analysis

Updated: Erdene Resource Development Corp.

Erdene Resource Development is an early player in Mongolia, a country with a significant amount of natural resources. They have two projects that should make it into production. Khundii is headed to production in 2021. They released a positive PEA in... more

02/09/2019

Analysis

Updated: Inca One Gold Corp

Inca One Gold is a toll miner in Peru. They process gold ore from other companies for a profit. They have a plan to grow from 250 tpd to 450 tpd - if they can sign enough contracts with gold producers. They focus on revenue in their company presentation... more

02/09/2019

Analysis

Updated: Inca One Gold Corp

Inca One Gold is a toll miner in Peru. They process gold ore from other companies for a profit. They have a plan to grow from 250 tpd to 450 tpd - if they can sign enough contracts with gold producers. They focus on revenue in their company presentation... more

02/09/2019

Analysis

Updated: Abitibi Royalties Inc

Abitibi Royalties owns a 2% and 3% NSR (net smelter royalty) for the Malartic CHL property, which is next door to the Malartic mine, which is the largest gold mine in Canada. They do not have to pay any of the costs until production begins. The developer... more

02/09/2019

Analysis

Added: AuStar Gold Ltd

AuStar Gold is trying to become a small gold producer in Australia. They have two past producing mines (Morning Star and Rose of Denmark) that they are trying to bring back to life. They do not have a PEA or resource totals. Their company presentation is... more

02/07/2019

Analysis

Updated: Auramex Resource Corp

Auramex Resources is a small gold explorer with 2 properties in British Columbia on 30,000 Hectares (and 3 others optioned). They have done some drilling and found some gold, but not much. They were out of cash so no drilling has been done over the last... more

02/07/2019

Analysis

Updated: Angel Gold Corp

Angel Gold Corp is a new company with three early exploration projects in Colombia. Their lead geologist is very good and made the Ventana discovery. This is a very high risk speculation stock until they make a discovery. They acquired the El Porvenir... more

02/07/2019

Analysis

Updated: Sibanye-Stillwater

Sibanye-Stillwater (previously Sibanye Gold) is a new emerging major in South Africa that was created by Gold Fields. It encompasses three producing underground gold mines that have 77 million oz in resources. They will produce 1.2 million oz in 2018.... more

02/07/2019

Analysis

Added: Western Atlas Resources Inc

Western Atlas Resources is a project generator focused in Canada. They have two large properties in Nunavut that both early exploration. It appears that both Meadow Bank (150,000 acres) and Committee Bay (250,000 acres) have not yet been drilled. Meadow... more

02/06/2019

Analysis

Updated: Northern Superior Resources Inc.

Northern Superior Resources has 3 early exploration projects in Canada (Quebec and Ontario). Croteau Est (55,000 acres) is their focus. It is a 640,000 oz (1 gpt) resource that is likely to exceed 1 million oz. It appears to be a mine. They are currently... more

02/06/2019

Analysis

Added: Max Resource Corp

Max Resource Corp recently made an acquisition in Colombia. Choco (400,000 acres) is a similar discovery as the conglomerate found by Novo Resources. It is only 12 meters thick and a surface mine. They are currently testing 5 open pits in an area the... more

02/05/2019

Analysis

Updated: Northern Superior Resources Inc.

Northern Superior Resources has 3 early exploration projects in Canada (Quebec and Ontario). Croteau Est (55,000 acres) is their focus. It is a 640,000 oz (1 gpt) resource that is likely to exceed 1 million oz. It appears to be a mine. They are currently... more

02/05/2019

Analysis

Updated: Bold Ventures Inc

Bold Ventures is a project generator focused in Canada. They have a lot of land 100,000 acres and 6 projects, but all of them are early exploration without a significant discovery.
I'm not sure where they are focusing their exploration dollars. They... more

02/04/2019

Analysis

Updated: Imperial Metals Corp

Imperial Metals is a Canadian copper miner in British Columbia. They have 5 billion lbs of copper and 75 million lbs of annual production. They also have 18 million oz of gold (only about 35% recovery) and 25 million oz of silver (only about 25% recovery) more

02/04/2019

Analysis

Updated: Nortec Minerals Corp

Nortec Minerals is a small exploration company. They have obtained a 80% option for a gold project (Tomboko) in West Africa (Guinea). It is a large property (18,000 acres) and is next to a 5 million oz gold mine with similar geology.
After collecting... more

02/03/2019

Analysis

Updated: Orvana Minerals Corp.

Orvana Minerals is an emerging mid-tier producer. Their 1.7 million oz (4 gpt) flagship property in Spain (EVBC) began production in 2012 for a long-life mine. Currently they are only producing 65,000 oz at EVBC, but that should increase over time. They... more

02/03/2019

Analysis

Updated: Kula Gold Ltd

Kula Gold is a project generator in Papau New Guinea. They have 20% ownership in a 2 million oz (1.5 gpt) deposit (Woodlark Island) that is permitted with a completed feasibility study. They have a JV deal with Geopacific Resources. The stock seems... more

02/03/2019

Analysis

Updated: Tethyan Resources Plc

Tethyan Resources (formerly Aurasian Minerals) has several early exploration projects in Serbia. Suva Ruda is a copper/gold/lead/zinc discovery. They have an 8-year option to pay $6 million for 100% (payable at anytime before the 8 year period expires).... more

02/03/2019

Analysis

Updated: Galway Metals Inc

Galway Metals is advancing two projects in Canada. Their Clarence Stream gold project (600,000 oz at 2 gpt) could easily become a mine. It's on a large property (150,000 acres) in New Brunswick with significant exploration potential.
Their other... more

02/03/2019

Analysis

Updated: Peloton Minerals Corp

Peloton Minerals is an exploration company currently focused in Nevada. They have three gold projects (Golden Trail, Independence Valley, and Texas Canyon) that could be discoveries. Both are small properties (about 1,000 acres each). They have gold at... more

02/03/2019

Analysis

Updated: Landore Resources Ltd

Landore Resources is advancing a gold project in Canada. Junior Lake is a recent discovery that has grown into a 950,000 oz surface deposit (2 gpt). They think it will have a low capex and low operation costs. They plan to work on a PEA and then a pre-fea more

Barkerville Gold is steadily advancing toward becoming a large company. Their market cap jumped from $37 million to $235 million, but is now back to $180 million. They have a new CEO and he is focusing on high-grade underground mining. In fact, they do... more

02/02/2019

Analysis

Updated: Perseus Mining Ltd

Perseus Mining is a mid-tier producer in West Africa. They will produce about 250,000 oz in 2019. Most of that will come from their large Edikan project in Ghana. They will also produce about 75,000 oz from their new Sissingue project in Cote D’Ivoire.... more

02/02/2019

Analysis

Updated: Premier Gold Mines Ltd.

Premier Gold Mines is a mid-tier producer with growth potential. They currently only operate one mine (Mercedes), which is in Mexico. They paid $123 million, plus 6 million shares, for the 900,000 oz Mercedes deposit. That seems high, but they expect to... more

02/02/2019

Analysis

Updated: Secova Metals Corp.

Secova Metals is a small gold exploration company in Canada. They tried to advance their Duvay project (17,000 acres) in Quebec after hiring the CEO from Eagle Hill Exploration, which sold his company to Osisko Mining after finding 1.8 million oz in... more

02/02/2019

Analysis

Added: Landore Resources Ltd

Landore Resources is advancing a gold project in Canada. Junior Lake is a recent discovery that has grown into a 950,000 oz surface deposit (2 gpt). They think it will have a low capex and low operation costs. They plant to work on a PEA and then a pre-fe more

02/02/2019

Analysis

Added: Renforth Resources Inc

Renforth Resources is a project generator focused in Canada. They have 5 properties in Quebec and 2 JVs. Their Parbec property (500 acres) has a 650,000 oz (2 gpt) resource that looks like a mine. If it was a larger property with more exploration... more

02/02/2019

Analysis

Added: Seahawk Ventures Inc

Seahawk Ventures is a new project generator focused in Canada. They have 5 properties in Quebec. All of them are early exploration with very little drilling. They plan to drill Touchdown (6,000 acres), Mystery (8,000 acres), and Xtra Point (140 acres) in... more